Having car insurance in Dubai means that you are protected against any unfortunate events that might happen. Over a period of time, the premiums of insurance policies have increased significantly. However, today in this article, we are going to discuss some tips that you can use for saving more money on your car insurance.
7 Tips To Save on Your Car Insurance Premium
Tip #1: Select Your Car Smartly
The premium of your car insurance is dependent on several factors and one of which is type of car. The specifications of your vehicle including its model, type, year of manufacturing, and safety feature everything is considered while deciding the premium. It is seen that the insurance of SUV and sports cars are costlier than the insurance of other cars. However, it is just one factor.
Tip #2: Keep Your Car in Shape
As discussed above, the insurance companies look at the type of vehicle that they are going to insure – this is to ensure that if they need to pay out then too they save some money. In this way, if you keep your car in shape and add some safety features to it such as a tracker, safety alarm, etc. then also the premium gets affected. This means that your car is road-worthy.
Tip #3: Do Your Research First
Whether you have taken a car for the first time or porting your insurance with another insurer, do your research first. This is because the insurance providers also consider the history of a driver before deciding the premium, so you can also allow yourself to find out which insurance provider fits in your profile. For this, you can take the help of an insurance web aggregator. An aggregator asks a few questions to you about your requirements with your insurance policy and offers you the most suitable insurance policy. This can save a lot of money of yours as you will be able to find out the best car insurance in Dubai as per your requirements.
Tip #4: Try to Reduce the Kilometers of Your Car
The car insurance companies generally charge more, if your car is seen to be at a ‘higher risk’. This means the car with high mileage is at higher risk of breaking down. So, it is suggested to take alternatives for keeping the kilometers of your car low, such as avoid taking the same car over the weekends that you have taken on the weekdays or start carpooling instead.
Tip #5: Use Your No Claim Bonus
Various people, who have insurance policies are not aware of No Claim Bonus (NCB) or sometimes known as No Claim Discount (NCD). The NCB or NCD is the reward given by the insurance company for one claim free year. The NCD can be accumulated after each renewal of the insurance policy if you maintain good driving behavior. Moreover, the NCB can be transferred from one insurance provider to another.
Tip #6: Up the Deductibles
The deductibles or excess is the amount of money that you commit to paying for your insurance policy. This excess or deductible includes repairs, accidents, theft, etc. Most of the times, the insurance company offers a minimum excess amount as per your premium that you have to pay from your pocket. The lower your excess amount the higher is your premium. This is because; the insurance company is committing to pay you more. However, if you choose to increase your excess amount, you can save more on the premiums.
Tip #7: Consider Purchasing in Bulk:
Different insurance companies offer discounts if you purchase an insurance policy for multiple cars. If you own more than one vehicle, then it is suggested to take an insurance policy in bulk up front.
By following these tips you for sure will be able to save money on your car insurance in Dubai. So, what are you waiting for? Follow these tips and enjoy discounted rates on the premium of your insurance policy.